“It’s an exciting set of numbers, we’re happy. [It] reflects on the investments and commitments we have made in the past,” says group CEO Helen Wong at the bank’s results briefing on Nov 7. This is Wong's last such briefing before her retirement on Dec 31.
Shares in Oversea-Chinese Banking Corporation (OCBC) rose by some 4.4% to an intra-day high of $17.94, after the bank’s 3QFY2025 results surpassed expectations. The bank's shares closed 59 cents higher or 3.4% higher at $17.78 on Nov 7.
For the three months ended Sept 30, group net profit stood largely unchanged y-o-y but grew by 9% q-o-q to $1.98 billion, making this the bank’s second-highest quarterly net profit, behind its 1QFY2024 results by just $4 million. The earnings were also the highest over the past five quarters on strong non-interest income growth, driven by fee, trading and insurance income. The bank’s wealth management franchise saw record income during the quarter.
